The official, corporate home of the Washington Redskins? Loudoun County, Virginia. Don't worry if you forget that fact now, once football season begins, you'll be hearing it quite often.
The county and the Redskins are upgrading their existing partnership deal, signed in 2008, with the county continuing on as the corporate home of the DMV's (D.C. - Maryland - Virginia) favorite NFL team. Under the new agreement any event held at Redskins Park -- the strength and training facility operated by the team -- will contain regular references to its location in Loudoun. Loudoun will also receive a rotational advertisement on Redskins.com, references in any Redskins press releases -- which will be generated from Redskins Park, and limited usage of the Redskins Park facility for corporate tours and events.
Of course, the county, and on a larger scale, the state of Virginia, won't receive these benefits for free. The state is paying $4 million to the team, while the county is adding another $2 million, and the city of Richmond another $400,000. The Virginia state lottery is also expected to throw in $6 million, increasing the Redskins revenue stream up over the $12 million dollar mark.
In return, the team is planning on upgrading its current Redskins park facility, a project that will generate a little more than $10 million in local economic impact.
(h/t via BizJournal)